Asics, Mizuno Report Results
Mizuno, which reported a 19 percent decline in Americas’ revenues to the equivalent of $79.7 million for the six months ended Sep. 30, says it’s focused on growing its running and golf businesses in the region and intends to increase sales with new product introductions and a focus on reducing fixed costs. The brand’s Americas’ footwear revenues declined 26 percent to the equivalent of $27.5 million. The company’s total global revenues were down 22.5 percent for the period to the equivalent of $628.2 million. Net income was down nearly 96 percent in local (Japanese yen) currency.
At ASICS, meanwhile, North American sales for the nine months ended Sep. 30, impacted by the COVID-19 pandemic, declined 19 percent in Japanese Yen to approximately $454.4 million in U.S. dollars. North American ecommerce sales were up 149 percent year-over-year. The region’s loss for the period was $24.8 million. Global performance running sales dipped 3.6 percent in local currency to the equivalent of $1.16 billion with strong sales in Europe, Greater China and Oceania unable to offset weak sales in regions more impacted by the spread of COVID-19. Performance running footwear sales rose 19 percent globally.
Overall, Asics’ nine-month global sales declined 13.3 percent to $2.31 billion. The company is currently forecasting a 15 percent drop in annual sales to approximately $2.98 billion for the 12 months ending Dec. 31.